From the WSJ article:
“A bailout loan could stretch the resources of both the IMF and the euro zone
to breaking point and raise serious questions about the purpose of the euro,”
another of the people said.
“Neither the IMF, nor the euro zone, can shoulder this bill with three other
euro-zone bailouts in progress. The money is simply not there,” a second person
said.
Alas don’t worry Spain is going a begging:
Spanish government officials are embarking on a flurry of diplomatic visits,
with deputy Prime Minister Soraya Saenz set to meet U.S. Treasury Secretary Timothy Geithner and the International Monetary
Fund’s Managing Director Christine Lagarde Thursday on what the government described as a
routine visit. IMF spokesman Rice said Lagarde would be discussing recent
developments in Spain.
Feel so much better that Timmy is in the room now.
